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DF Deutsche Forfait structured US$ 55 million ´Deal of the Year 2012´
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0 Kommentare(DGAP-Media / 28.02.2013 / 08:47)
Press Release
DF Deutsche Forfait structured US$ 55 million ´Deal of the Year 2012´
- British magazine Trade & Forfaiting Review announces the most
innovative transactions of the year
- Deal between Chinese and Russian car makers
- DF Group benefits from track record in complex cross-border deals
Cologne, 28 February 2013 - DF Deutsche Forfait AG structured one of the
most innovative forfaiting deals of the year 2012. This was announced by
the panel of Trade & Forfaiting Review (TFR) in mid-February, marking the
renowned British trade finance magazine´s ninth annual awards for banks and
service providers from the trade finance sector as well as outstanding
transactions of the past year. The ´Deal of the Year´ structured by DF
Deutsche Forfait involved the complex forfaiting of exports by a Chinese
car maker to Russia and was concluded in March 2012.
The 10 judges primarily highlighted the pioneering role played by the DF
Group in the still young Chinese forfaiting market: ´Chinese forfaiting
deals are pretty rare; it´s an untapped market with great potential. DF
Deutsche Forfait AG is shining a light on the untapped scope of this huge
market where the major problem for us foreigners starts with name
recognition.´
The deal involved the sale of components for light-duty vehicles totalling
US$ 55 million. The exporter was Chinese auto manufacturer Chongqing Lifan
Industry, who sold the components to a Russian car maker with a payment
term of 260 days. To get liquidity more quickly and to minimise the risk of
the transaction, the exporter contacted its bank, the China Merchants Bank
(CMB), which, in turn, called on DF Deutsche Forfait AG. The DF Group had
completed several successful transactions with CMB in the past. The main
challenge was to find a solution that catered to the needs and requirements
of the Chinese exporter, their bank, the Russian importer and the Russian
bank that issued the guarantees. Moreover, currency risks had to be
minimised, as the sales contract was in Chinese renminbi, the bank
guarantee was in US$ and the importer had a EUR payment option.
Not least thanks to its multicultural team, the DF Group was able to devise
the optimum solution for the Chinese exporter, while at the same time
minimising its own risk. DF Group purchased four accounts receivables which
have meanwhile been paid off or resold to an investor and paid in full.
About DF Group
The main business activities of DF Group are the purchase and sale of
selected export receivables in emerging markets on a non-recourse basis.
The objective is to sell the acquired receivables at the same time or in
the short term. Forfaiting is an increasingly important tool in export
financing, with volumes rising in line with the continuing advance of
globalization. Creating tradable products from receivables benefits both
exporters and buyers. As well as transferring risk to the buyer, the main
benefit of forfaiting for exporters is the inflow of cash. This relieves
the exporters´ credit lines and improves their balance sheet structure. DF
Deutsche Forfait AG structures receivables attractively, so that investors
seek them as a type of investment.
DF Deutsche Forfait AG
Christoph Charpentier
Kattenbug 18 - 24
50667 Cologne
T +49 221 97376-37
F +49 221 97376-60
E investor.relations@dfag.de
http://www.dfag.de
End of Media Release
Issuer: DF Deutsche Forfait AG
Key word(s): Enterprise
28.02.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: DF Deutsche Forfait AG
Kattenbug 18-24
50667 Köln
Germany
Phone: +49 (0)221 - 973 76 0
Fax: +49 (0)221 - 973 76 76
E-mail: dfag@dfag.de
Internet: www.dfag.de
ISIN: DE0005488795
WKN: 548879
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP-Media
202598 28.02.2013
most innovative forfaiting deals of the year 2012. This was announced by
the panel of Trade & Forfaiting Review (TFR) in mid-February, marking the
renowned British trade finance magazine´s ninth annual awards for banks and
service providers from the trade finance sector as well as outstanding
transactions of the past year. The ´Deal of the Year´ structured by DF
Deutsche Forfait involved the complex forfaiting of exports by a Chinese
car maker to Russia and was concluded in March 2012.
The 10 judges primarily highlighted the pioneering role played by the DF
Group in the still young Chinese forfaiting market: ´Chinese forfaiting
deals are pretty rare; it´s an untapped market with great potential. DF
Deutsche Forfait AG is shining a light on the untapped scope of this huge
market where the major problem for us foreigners starts with name
recognition.´
The deal involved the sale of components for light-duty vehicles totalling
US$ 55 million. The exporter was Chinese auto manufacturer Chongqing Lifan
Industry, who sold the components to a Russian car maker with a payment
term of 260 days. To get liquidity more quickly and to minimise the risk of
the transaction, the exporter contacted its bank, the China Merchants Bank
(CMB), which, in turn, called on DF Deutsche Forfait AG. The DF Group had
completed several successful transactions with CMB in the past. The main
challenge was to find a solution that catered to the needs and requirements
of the Chinese exporter, their bank, the Russian importer and the Russian
bank that issued the guarantees. Moreover, currency risks had to be
minimised, as the sales contract was in Chinese renminbi, the bank
guarantee was in US$ and the importer had a EUR payment option.
Not least thanks to its multicultural team, the DF Group was able to devise
the optimum solution for the Chinese exporter, while at the same time
minimising its own risk. DF Group purchased four accounts receivables which
have meanwhile been paid off or resold to an investor and paid in full.
About DF Group
The main business activities of DF Group are the purchase and sale of
selected export receivables in emerging markets on a non-recourse basis.
The objective is to sell the acquired receivables at the same time or in
the short term. Forfaiting is an increasingly important tool in export
financing, with volumes rising in line with the continuing advance of
globalization. Creating tradable products from receivables benefits both
exporters and buyers. As well as transferring risk to the buyer, the main
benefit of forfaiting for exporters is the inflow of cash. This relieves
the exporters´ credit lines and improves their balance sheet structure. DF
Deutsche Forfait AG structures receivables attractively, so that investors
seek them as a type of investment.
DF Deutsche Forfait AG
Christoph Charpentier
Kattenbug 18 - 24
50667 Cologne
T +49 221 97376-37
F +49 221 97376-60
E investor.relations@dfag.de
http://www.dfag.de
End of Media Release
Issuer: DF Deutsche Forfait AG
Key word(s): Enterprise
28.02.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: DF Deutsche Forfait AG
Kattenbug 18-24
50667 Köln
Germany
Phone: +49 (0)221 - 973 76 0
Fax: +49 (0)221 - 973 76 76
E-mail: dfag@dfag.de
Internet: www.dfag.de
ISIN: DE0005488795
WKN: 548879
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP-Media
202598 28.02.2013
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